Binance survey: More than 80% of Australian respondents believe that halving is beneficial to the industry

According to research from Binance, investment sentiment is expected to improve, valuations will be higher, and trading volumes will increase ahead of the upcoming Bitcoin halving event. The study, which surveyed more than 2,000 Australian cryptocurrency investors, showed that more than 80% of respondents believe the upcoming halving will be positive for the industry, while more than half expect BTC’s price to rise as a result. Ben Rose, Binance Australia and New Zealand General Manager, said: "It is pleasing to see that our Australian customers are very well informed about the halving, with 85% considering themselves well informed. The results also show that the halving has a positive impact on BTC trading, with nearly 80% of Binance Australia users planning to increase their BTC holdings in the near future, with less than half looking to do so before the halving expected later this month. As we deal with inflationary pressures and rising interest rates, the halving is an important built-in inflation hedge. With only 21 million coins, the asset mimics the scarcity of precious commodities such as gold. This has caught the attention of institutional investors, who are increasingly recognizing that cryptocurrencies can be part of a diversified portfolio. We have an incredible opportunity in Australia to continue to grow our digital asset industry, and hot events like this are ideal times to get more Australians educated and involved in cryptocurrencies." In addition, the BTC price recently reached an all-time high of over $73,000. Rose emphasized that we are at a critical juncture for Bitcoin. The launch of spot ETFs and increased institutional investment have attracted the interest of mainstream investors and have a positive impact on the demand for cryptocurrencies. Australia should introduce a formal regulatory framework as soon as possible to protect consumers and promote innovation. (Australian Blockchain Cryptocurrency)